The Jewelry District

Victoria Gomelsky and Rob Bates delve into the launch of Patek Philippe’s Cubitus Collection. Victoria shares insight into the revered brand’s vision for its new timepieces. Next, Rob explains the philosophy behind a moving new ad campaign by De Beers and Signet for natural diamonds. Finally, Victoria reports on a visit to Roberto Coin in Vicenza, replete with kilos of gold and a masquerade ball. Sponsored by Tracr: tracr.com

On this week’s episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Stephanie Gottlieb, founder and creator of Stephanie Gottlieb Fine Jewelry, to hear how she built her business by tapping into the power of social media, what’s ahead for the brand, why she’s passionate about natural diamonds, and her picks for holiday bestsellers. BONUS: Hear a special sponsored mini interview with Jewelers Mutual Information Security Offer Grant Hansen about the most common cybercrimes and provides security tips to help jewelers avoid them. Presenting Sponsor: Tracr Sponsor: Jewelers Mutual

On this week’s episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss Signet CEO Gina Drosos’ impending retirement, reflect on her successes over the past seven years, and speculate on what’s ahead for new CEO J.C. Symancyk. Next, the conversation turns to Victoria’s recent New York Times report on the coming-of-age of independent watchmakers. These once-struggling fringe creatives are having a mainstream moment, partnering with major players in the luxury sector and seeing their pieces sell at auction for over a million dollars. Sponsored by Tracr: tracr.com

On this week's episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Julia Hackman Chafé, social media manager at Intercolor USA. And hear a special sponsored mini interview with Howard Stone from Jewelers Mutual, who talks store security and loss prevention. Presenting Sponsor: Tracr (tracr.com) Sponsor: Jewelers Mutual (jewelersmutual.com)

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk Victoria’s tour of a Montana sapphire mine and some consolidation occurring in the lab-grown diamond industry. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Greg Verras, watch design director for Shinola, a Motor City icon beloved for its “built in Detroit” timepieces. Greg shares his unlikely journey from a skateboard startup in his garage to high-end watch designer. He touches on what inspires new Shinola timepieces and collections, the hallmarks that make them uniquely American (casual accessibility meets heirloom quality), the wisdom of approaching new trends with care and caution, and the power of storytelling to sell product. Sponsored by Tracr: tracr.com

On this week’s episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates question whether the Paris Olympics suffered from overbranding and ponder what it means for future games, before discussing recent missteps at Tiffany & Co. and a flurry of C-suite changes at luxury watch brands. Next, Victoria explains how and why jewelry brands are tapping into the travel boom with shops in airports and aboard cruise ships. Finally, Rob brings listeners up to speed on Hodinkee’s return to its roots as a watch blog and the factors that prompted it. Sponsored by Tracr: tracr.com

Victoria Gomelsky and Rob Bates speak with Constance Polamalu, Chief Operating Officer of Zachary’s Jewelers, as well as the owner and founder of both Bloomstone Jewelers and Birthright Foundry. Constance shares her unique entrance into the jewelry industry, as well as the facets of each of her different businesses, from lab-grown diamonds to pieces that represent her American Samoa culture. She also offers insights into selling and interacting with different generations and clientele depending on what jewelry they are looking for. Sponsored by Tracr: tracr.com

On this week’s episode, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk about celebrity watch collectors and investors, such as John Mayer and Jay-Z, and discuss the new Russian sanctions on diamonds that the G7 council is looking to put in place. As well, there are big changes happening at Richemont, with many of the top executives playing musical chairs, and the Saks-Neiman Marcus merger being spearheaded by Richard Baker with Amazon as an investor, raising eyebrows and leading to discussion about other “e-tailers.” Sponsored by Tracr: tracr.com

This week, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Pippa Small, ethical jewelry designer and founder of Pippa Small Jewellery, based in London. Pippa has traveled extensively and worked to make sure that both her materials and partnerships are sourced with good intentions. Helping people tell stories through jewelry has always been her passion, and she shares her hopes and dreams for her business, the environment, and the people she has met along the way. Sponsored by Tracr: tracr.com

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share their reactions to the 2024 JCK show, including their impressions of the states of the diamond and lab-grown diamond sectors, takeaways from the De Beers breakfast, their experiences interviewing Botswana President Mokgweetsi Masisi, and how important it is for producer countries to have a presence at the show. Victoria talks about what she saw and learned from her press trip touring diamond factories in Surat, India with Ben Bridge. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share interviews they captured live from the JCK 2024 show floor, including Jan Patrick Smith, CEO of John Hardy; David Kellie, CEO of the Natural Diamond Council; Gina Fahnestock, Senior Associate of Responsible Sourcing and Sustainability at Brilliant Earth; Wesley Tucker, CEO of Tracr; Marie Claire Daveu, Chief Sustainability Officer of Kering; and Susan Jaques, President and CEO of GIA. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates react to Watches of Switzerland’s recent acquisition of Roberto Coin Inc. As the hosts discuss the slow growth of brands in the jewelry space, Victoria gives the fascinating backstory on Shinola’s Gomelsky watch as an illustration of the challenges of launching a new brand. Victoria covers the exciting activations to look out for on the JCK show floor, all in the name of love—this year’s JCK theme. Both hosts also run down the education sessions that you won’t want to miss this year. Sponsored by Tracr: tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates welcome one of the most influential guests ever to join the podcast—Al Cook, CEO of De Beers Group. Al shares his back story, comments on the current state of the diamond industry, and sheds light on the future of the diamond business in Botswana as well as what lies ahead for the lab grown market. Sponsored by Tracr: Tracr.com Sponsored by Tracr: Tracr.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates share news from their recent trips to Geneva and Austin to attend key industry conferences. At Watches & Wonders, Victoria noted a trend toward red and burgundy watch accents, along with a preponderance of derivative designs rather than radical innovations. She and Rob theorize on the reason for the trend. At a well-attended AGS Conclave, lab-grown diamonds and gold prices were hot topics, and Rob got a fascinating behind-the-scenes tour of a local boutique lab-grown producer. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with forecasting expert Nancy Leach, co-founder of the consulting firm Gemedge Studio, which helps companies develop strategy and initiatives to drive business growth. Sponsored by De Beers: institute.debeers.com

The hosts discuss a Ukrainian designer's account of war in her country, the issues with Russian diamond sanctions, and salute retiring Jewelers' Security Alliance president John Kennedy. Presenting sponsor: De Beers (institute.debeers.com) Sponsor: Nivoda (nivoda.com/jdpodcast)

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates speak with Jean-Claude Biver, president of JC Biver and a living legend of the watch world. He regales the hosts on his introduction to the industry 50 years ago; his time at Audemars Piguet; how he revived the historic brand Blancpain; his time running Hublot; and how he brought pizazz to Omega with help from Cindy Crawford and James Bond. He also reflects on how all those experiences are shaping what he and his son are doing at his new venture, the luxury watch brand, JC Biver. Presenting sponsor: De Beers (institute.debeers.com) Sponsor: Nivoda (nivoda.com/jdpodcast)

Rob Bates and Victoria Gomelsky talk about Russian diamond sanctions, news from Tucson, and a blogger’s mysterious Instagram suspension. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Vanessa Fernández, designer, bench jeweler, and owner of Vanessa Fernández Studio. Sponsored by De Beers: institute.debeers.com

Rob Bates and Victoria Gomelsky talk about a Platinum Guild press trip to Miami, the increasing need for lab-grown diamond detection tools and protocol, and what’s in store at the Tucson gem shows. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Stanley Zale, Principal Consultant at Hill & Company and grandson of Zale Corporation founder M.B. Zale. Sponsored by De Beers: institute.debeers.com

Today, Rob Bates and Victoria Gomelsky talk about 2024 predictions, Russian diamond sanctions, and the year in the watch world. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Tom Chatham, chairman of the board of Chatham Created Gems. Sponsored by De Beers: institute.debeers.com

Victoria Gomelsky and Rob Bates discuss highlights from an event-packed NYC Jewelry Week. These include a jewelry collective working with artisanal gold miners in Peru, a panel of Indigenous designers channeling cultural traditions into their work, and a Stephanie Gottlieb partnership with De Beers spotlighting diamond provenance. Rob weighs in on whether the Black Friday boom will prove a bellwether for holiday sales then turns the conversation to WWF Switzerland’s annual report on sustainability in the watch and jewelry industry. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates speak with Olga Oleksenko, founder of the Strong&Precious Art Foundation, which showcases Ukrainian jewelry art and design. Sponsored by De Beers: institute.debeers.com

Today, Rob Bates and Victoria Gomelsky talk about Victoria’s trip to Istanbul, WD Diamonds, and the history of sustainability in the watch industry. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates welcome Edahn Golan, diamond industry analyst as well as owner and manager of Edahn Golan Diamond Research and Data and managing partner of Tenoris. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates pay tribute to former JCK editor Hedda Schupak, who passed away this month. An industry icon as well as a mentor to Victoria and Rob, Hedda steered the magazine successfully through major changes in the early 2000s and played a key role in the early days of its annual Las Vegas trade show. Rob updates listeners on the latest news in Russian diamond sanctions, and Victoria shares highlights from her recent trip to Japan to visit Grand Seiko’s studio in the mountain town Shizukuishi. Sponsored by De Beers: institute.debeers.com

Victoria Gomelsky and Rob Bates interview Monica Stephenson, founder and president of ANZA Gems. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates delve into hot topics from the world of luxury watches, starting with Rolex’s recent acquisition of Bucherer and its potential implications for retailers. Next the conversation turns to Audemars Piguet’s latest AP House. Finally, Rob shares some encouraging news about a flurry of brick-and-mortar retail openings this year and dishes on the newest installment in his Diamond District mystery book series. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates interview acclaimed designer New York designer Lorraine West, whose handcrafted contemporary fine jewelry has earned the admiration of Grammy winners and Hollywood A listers—not to mention Sotheby’s and De Beers. Lorraine recounts the early days of selling her designs on the street in Soho, the bold moves that helped launch her successful career and convinced a music icon to become an early supporter, the unexpected gift she still treasures, and the art of giving back. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates dive into the hottest trends ahead, from more Barbie-fueled obsession with pink to nostalgic necklaces. (Think Rubik’s Cubes, robots, and all things ’80s.) Equally newsworthy is the luxury world’s laser focus on bigger, better brick and mortar—a high-end land grab that belies the digital-first future predicted during the pandemic. Finally, some of the world’s most elite watch brands are tuning in to hip-hop, EDM, and both genres’ massive hype-building power.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Jeffrey Post, research associate and curator emeritus, to hear where his love for minerology began. Jeffrey describes a visitor’s experience to the Smithsonian’s National Museum of Natural History as well as some of the stories attached to the gems he has encountered over the course of his 32 years as its curator of gems and minerals (including a once-in-a-lifetime chance to study the famous Hope and Wittelsbach Graff diamonds side-by-side).

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss Victoria’s recent custom ring experience, the State of the Art Jewelry Summit, and commemorate the 100th episode of The Jewelry District.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Jeffery Bolling of Colorado-based Jeffery B. Jewelers about his journey from serving in the U.S. Army to selling diamonds to becoming Colorado’s only African American–owned fine diamond, full-service jeweler.

Just back from JCK Las Vegas, JCK editor-in-chief Victoria Gomelsky and news director Rob Bates recap highlights from the big event, where they were delighted to see a return to the liveliness of pre-COVID shows. Diamond trends were a hot topic among attendees and exhibitors, so Victoria and Rob delve into a range of buzzworthy diamond-related observations from Vegas. Among them: Lightbox’s foray into lab-grown engagement rings and how intensifying focus on the three P’s (provenance, people, and planet) is reshaping the industry. Sponsored by De Beers: institute.debeers.com

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates sit down with Jeffery Fowler, CEO of the influential watch website Hodinkee to learn how the company got its unusual name and to hear about the path that led him to it. Jeff also speculates on the reason mechanical watches inspire such lasting passion (they’re science projects wrapped in history projects wrapped in art projects), offers predictions for the booming pre-owned watch market, and explains why good retailers are the best brand ambassadors.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates recap highlights from Tiffany & Co.’s star-studded party to mark the reopening of the Fifth Avenue flagship store, where a once homey vibe has been replaced by a sleek temple to luxury. Rob shares an update from AGS Conclave along with insights about the trending topic of ChatGPT and its potential for the industry. Finally, the two compare notes on which events they’re most excited to check out at JCK Las Vegas.

Victoria Gomelsky and Rob Bates catch up with Lawrence Hess, executive director of The Plumb Club, as the organization finalizes plans for JCK Las Vegas.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates discuss the much-anticipated reopening of Tiffany & Co.’s iconic Fifth Avenue store, now called The Landmark. Victoria also reports on her recent trip to Geneva for Watches and Wonders, where traffic was brisk, the mood was upbeat, and Rolex wowed the crowds with unexpected splashes of color and whimsy. Rob updates listeners on what’s new at Signet Jewelers after attending a recent Investors’ Day at the New York Stock Exchange.Sponsored by De Beers: institute.debeers.comShow Notes00:49: Tiffany & Co. Reimagines its Famous Flagship05:30: Rob Heads to AGS Conclave to Gauge the State of the Industry07:10: Rolex Brightens a Busy Watches and Wonders Exhibition15:18: What’s New at Signet Jewelers Episode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine; institute.debeers.com Show Recap Tiffany Offers a Sneak Peek at its Reimagined FlagshipVictoria seldom flies across the country to attend a party, but she’s making an exception for the much-anticipated reopening of Tiffany & Co.’s Fifth Avenue flagship store on May 27th. After a three-year closure and a complete makeover, what will The Landmark—as it’s now called—look like? Rob remembers visiting the iconic store as a JCK mystery and being surprised to find it warmly welcoming. It was almost homey in those days, he says. Victoria predicts the new iteration will be decidedly sleeker and more luxe since the brand’s target demographic is now considerably more affluent. “There’s a parallel story about the importance of brick-and-mortar,” Victoria observes. When she interviewed Tiffany CEO Anthony Ledru recently, he called The Landmark “the heart and soul of Tiffany.” The company is putting a major focus on its physical stores, expanding and renovating flagships in Seoul, Sao Paolo, and other parts of the world, she adds. When the pandemic reached its zenith, it looked like the future might be entirely virtual and digital, but “that’s not the case at all,” Victoria says. “The importance of brick and mortar is more apparent than ever.” Rob to Moderate Conclave PanelVictoria’s not the only one with travel plans. In early May Rob will head to Louisville, Kentucky, for the American Gem Society’s Conclave event, where he’ll moderate an expert panel on how the industry is faring in 2023 and gauge the outlook for the future. Victoria is eager to hear his takeaways. She predicts JCK’s audience will be too. “It’s been a confusing year, with the lingering specter of recession,” she points out. “People are waiting for some guidance.” Rolex Brightens a Busy Watches and WondersThe conversation shifts to Victoria’s recent trip to Switzerland for Watches and Wonders in Geneva. This year’s bustling conference was a far cry from the quiet show of 2022, when quarantine kept Chinese buyers, retailers, and press away. “It felt upbeat and buzzy” in spite of the logistical frustrations inevitable in a crowded convention center, she says. The optimism surprised Victoria, who expected the drop in secondary watch prices after last spring’s crypto collapse to put a damper on people’s moods. Instead she found an enthusiastic crowd and a robust array of new offerings. The most talked-about were whimsical, colorful watches from Rolex, a new direction for the brand. One featured a Celebration Dial with balloons in a rainbow of colors. Another was an off-catalogue model with 31 emojis and seven inspirational words like “love” and “faith” instead of dates and days of the week. Victoria says this is the first time she has seem Rolex introduce a concept piece and, despite some hate from internet trolls, show attendees loved the fresh, vivid newcomers. She gives the company kudos for introducing innovative offerings that break through some sameness in the category. Rob asks about Rolex’s recently introduced Certified Pre-Owned Programme. Victoria says people still aren’t sure how it will work, but she thinks secondhand dealers are likely diversifying and refocusing on other brands because they may not be able to compete with Rolex’s proprietary program. Signet Focuses on Affordable LuxuryTurning their attention back to the U.S., Rob reports on the Signet Jewelers’ Investor Day he recently attended at the New York Stock Exchange. He was impressed by the executive team—and the fact that the majority of its members are female. “Five years ago it would have been all men and one woman,” he notes. “It’s a very different company than before Gina Drosos took the helm” and one he believes is in very capable hands. Signet is focusing on expanding its accessible luxury offerings, though Victoria notes that the term is highly subjective. We all define “affordable” differently. In Signet’s case, Rob expects it will mean higher price points. The company also plans to expand its bridal offerings and to attract female shoppers, a goal that may pose challenges for traditionally male-focused

Victoria Gomelsky and Rob Bates talk with two guests who are a married couple: Feriel Zerouki, Senior Vice President of Corporate Affairs at De Beers Group, and Mahiar Borhanjoo, CEO of UNI Diamonds.

Rob Bates and Victoria Gomelsky talk 24 Karat Weekend, Russian diamonds, lab-grown diamond quality issues, and recent events with banks.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Tom Nolan, CEO of Kendra Scott, a billion-dollar brand with a legendary origin story that started with a single mom selling her designs door to door. Tom recounts his own unlikely path to Kendra Scott and shares the inside scoop on the company’s formula for connecting with customers by creating emotional experiences. He offers a look at the 130-store chain’s successful growth strategy, its formula for weathering hard times, and a few clues about what’s ahead for the Texas-based powerhouse.

What was hot at the Tucson gem shows, diamond supplier news, and Chat GPT. Any views expressed in this podcast do not reflect the opinion of JCK, its management, or its advertisers.

JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk with Malyia McNaughton, founder of Made by Malyia. The self-taught jewelry designer and Black in Jewelry Coalition board member is proof that trusting your gut can be the key to creative success. When Malyia couldn’t find the jewelry she wanted, she designed her own—and wore it. Demand for her designs inspired her to launch her brand and has made her a rising star whose looks have been worn by Lizzo and other celebrities.Sponsored by De Beers: diamondeducation.debeers.comShow Notes1:53 From body chain to brand launch5:09 Expanding organically8:04 Turning obstacles into opportunities10:53 Finding creative inspiration13:57 High-profile partnerships17:58 In the spotlight on SNL20:51 The Black in Jewelry Coalition: making a difference23:52 Tips for aspiring designersEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: jckonline.com; @jckmagazine; madebymalyia.com; diamondeducation.debeers.com [Use promo code JCKPRO_15 at checkout for 15% off workshops.]Show RecapFrom body chain to brand launchVictoria introduces Brooklyn-based designer Malyia McNaughton, founder of Made by Malyia, and asks how she started creating jewelry. The daughter of Jamaican immigrants was born in the Bronx, raised in Florida, and attended Florida State University, where she studied fashion merchandising and product development. After graduating, she moved back to New York to pursue a career in fashion, starting in sales and product development for Nicole Miller and eventually designing for another fashion brand.In 2014, Malyia had tickets to a music festival in Philadelphia. She wanted to make a statement by wearing a body chain but couldn’t find the right piece. Undeterred, she sourced materials and designed her own. Little did she dream she was making her first item of jewelry. “I got stopped by so many people asking me where I’d gotten it,” Malyia recalls. “After the fifth or sixth person, my friends said, ‘You might be onto something.’ We went to lunch, and they helped me come up with the name Made by Malyia.’ It was one of those Oprah aha moments.”Expanding organicallyAfter months of trial and error, Malyia developed a body chain she felt was ready to put on Etsy. To her delight, orders poured in. Still, she viewed Made by Malyia as a creative outlet, not a business. Gradually she added products based on buyers’ feedback. When a client asked if she could make a temporary nose ring, Malyia branched into nonpermanent nose and body jewelry. Next someone asked for a ring. “It started to expand very organically,” she says. Eventually, growing demand persuaded her to build a collection and a website.“Etsy was a great launching pad,” she says. “I credit my customers [there] for amplifying my voice and bringing me to market.” Though she has moved away from the platform, she hopes to do another Etsy-specific collection.Turning obstacles into opportunitiesRob asks what challenges Malyia faced as a newcomer to the industry. She points out that the jewelry business is famously generational. While those family bonds are admirable and she hopes to build her own legacy, they have a downside: They create a major entry barrier for self-taught designers of color and anyone else who lacks personal connections.Malyia turned the disadvantage into an advantage. As a newcomer, she felt less pressure to put out product than established insiders might. This freed her up to focus intensely on design. She is very intentional in the projects she takes on, releasing small, effective capsule collections that will sell through.Finding creative inspirationMalyia has said her work celebrates the intersection of art, nature, and culture. Victoria wonders how this translates into her creative process. The designer starts by placing raw materials in her workspace and spending a week surrounded by them. She also immerses herself in nature, drawing particular inspiration from the movement of water. Sometimes weeks go by before an idea strikes her—then ideas come fast and furious, and she finds herself making 100 sketches in a row. Her rough sketches go up on the wall, where she can study and tweak them. Next she engineers her designs to ensure they’re structurally sound before sending them to her CAD designer to see what they look like in 3D. “It’s a pretty unique process, but I’ve learned to embrace it,” she says.On her inspiration board, Malyia keeps an old magazine article about Monique Péan that she clipped when Made by Malyia was taking root. “She really is a trailblazer,” says Malyia. Other role models include Sheryl Jones, “a phenomenal designer” and personal mentor, as well as Elsa Peretti. She feels a kinship with the late Peretti because, like Malyia, the designer saw herself as an artist.High-profile partnershipsVictoria points out that Malyia has done quite a few well-publicized collaborations despite being relatively new to the industry and ask

Join JCK editor-in-chief Victoria Gomelsky and news director Rob Bates for a roundup of buzzworthy industry updates. Victoria reports on the recent VicenzaOro fair, where the halls were crowded, the mood upbeat, and the looks big and bold. She updates listeners on a rare timepiece collection from the archives of Jaeger-LeCoultre. It’s the first significant effort by a Swiss watchmaker to sell vintage pieces and may herald a burgeoning trend. Rob analyzes what Israeli equipment maker Sarine’s purchase of the family-owned lab GCAL means for the future of diamond grading—and artificial intelligence’s growing role in it. Finally, the two discuss the Federal Trade Commission’s proposed ban on noncompete clauses.Sponsored by De Beers: institute.debeers.comShow Notes2:22 A lively January VicenzaOro fair7:21 Jaeger-LeCoultre unveils first vintage watch collection12:22 What Sarine’s purchase of GCAL means for the future of diamond grading18:09 The FTC’s move to ban noncompete clausesEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine; institute.debeers.comShow RecapViva VicenzaOroJust back from Italy’s January VicenzaOro goldsmith and jewelry fair, Victoria says she was delighted to find the show packed and the mood optimistic. She had expected inflation, the war in Ukraine, and fear of recession to trigger cautiousness and a comedown from the boom the industry has enjoyed since the pandemic started. However, this was the best-attended VicenzaOro ever in terms of both exhibitors and attendees. Victoria spent most of her time in the crowded hall where Roberto Coin, Damiani, Fope, and other luxury brands that export to the United States were exhibiting. Also bustling was the adjacent T.Gold show, featuring jewelry machinery and technology for everything from engraving to laser welding.Victoria is still amassing information on the show’s top sellers, but one trend is certain: Big, bold pieces are replacing the small, delicate ones favored during quarantine. Understated jewelry suited people well when they were working from home, she says, but now subtle looks (such as stacking multiple delicate bracelets on the wrist) are making way for powerful statement pieces—especially cuffs and collar necklaces.Jaeger-LeCoultre Unveils Vintage CollectionVictoria’s recent European trip included a visit to Geneva to learn about Jaeger-LeCoultre’s first-ever vintage watch collection. She explains that the Swiss company is known as the watchmaker’s watchmaker. The brand has made all of its timepieces in its own workshops in the Vallée de Joux since its foundation in 1833, and Jaeger-LeCoultre calibers and movements have powered many other brands’ watches over the years. Now Jaeger-LeCoultre has mined its own rich history to create The Collectibles, 17 models from its archives produced between 1925 and 1974. Each reflects a watchmaking innovation from the 20th century. Twelve of these models were sourced from auction houses and vintage dealers and are available for purchase. Included are the Reverso, the company’s best-known model, and several interesting watches from the 1950s and 1960s, according to Victoria. The Collectibles is an evolving collection, so the models will remain the same, but different editions may be introduced along with new capsules, she says.This is the first time Victoria has seen a Swiss watchmaker invest such effort into selling vintage pieces rather than new models. She likens it to Rolex’s Certified Pre-Owned program and points out the advantage of having such treasures returned to the workshops where they were created to be fine-tuned with the very tools and components that were used to build them. How will other brands respond? Victoria is eager to find out. She predicts that we’re on the brink of a new era of modern-day Swiss watchmakers taking much more care with vintage pieces that have potential to be resold.Sarine Acquires GCALIn other news, Rob reports that Israeli equipment manufacturer Sarine has bought the family-owned diamond-grading lab Gem & Certification Assurance Lab (GCAL). Though GCAL is relatively small, it is widely respected for giving tough grades based on GIA standards and offering a certificate guaranteeing those grades.Rob finds the acquisition intriguing, given that Sarine uses machines that rely on artificial intelligence (AI) to grade diamonds. This allows them to grade gemstones in the factory rather than sending them to a lab, as Rob reported last year. The fact that Sarine is using a well-established lab to roll out its AI approach and promising to honor GCAL’s grading guarantee shows how much confidence they have in the technology, he says. Clearly, Sarine believes its technology can match GCAL’s standards. Rob and Victoria say the acquisition will help the industry get used to the concept of AI grading, a method many labs are exploring. How will AI play out in the industry? That’s anyone’s guess, but Victoria predic

Gearing up for JCK Tucson 2023? Dave shares expert insights on what to expect at the show as well as which stones and colors are trending this year.

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates look ahead into 2023.

You’ll hear JCK editor-in-chief Victoria Gomelsky and news director Rob Bates talk holiday predictions, the theme of which is cautious optimism. They discuss inflation and its affect (or lack thereof) on spending on jewelry, depending on strata. (The wealth divide is also the dividing line for this consideration.) The hosts also talk about Rolex’s recent announcement that they are entering the preowned watch space, and the questions this brings up about the secondhand marketplace. They also note a slowing down in the colored diamond market.Show Notes01:30 Educated guesses about the holiday season03:40 Inflation concerns09:15 Rolex launches certified pre-owned program19:30 Colored diamond category slows downEpisode CreditsHosts: Rob Bates and Victoria GomelskyProducer and engineer: Natalie ChometPlugs: @jckmagazine, jckonline.comShow RecapModerate Hopes for the HolidaysAs they look ahead and talk about the holidays. When Victoria spoke to Abe Sherman at Buyers Intelligence Group (BIG) who said, “I’ll tell you in ten days.” For jewelers, things don’t come into focus until the very last moment. They suspect this holiday won’t be as strong as last year. Most of those who Rob has spoken to think that even if it is a few points lower than last year, they could still characterize this year’s holiday sales as a success.When Signet announced their results, Gina Drosos gave the reasoning that last year, many did their shopping early because of supply chain worries. This year, that doesn’t seem to be the case. October had been down, but things are picking up closer to the holiday. The last two years are such a high base. People don’t necessarily expect those levels to continue, but still hope for a successful year.Effects of InflationThough inflation has calmed, it is still higher than we are accustomed to. This affects how the middle class spends on jewelry. Whether it gives the wealthy pause about how they spend, Victoria is not sure. Increasingly, those markets are bifurcated: the upper class does not have to make adjustments to their spending the way the middle and lower-income shoppers do when economic concerns come up.The pattern of the last several years has been gains on the higher end and not as much on the lower and middle. During the pandemic, there were gains across the board. Now, we’re going back to the pre-pandemic pattern. Signet has noted that the gains they are seeing are at the high end, or “accessible luxury.”Something jewelers learned during the pandemic was to up their digital game. Rob has noticed a lot of jewelers putting out interesting content on TikTok. This is the way of the future when it comes to reaching buyers. Jewelers have also used YouTube to tell their store’s story in an appealing way. Rob comments on the organic nature of TikTok. It feels personal. There’s a strange charm to it being just one person with their phone.Rolex Enters the Pre-Owned SpaceOn December 1st, Rolex announced they were formally entering the preowned space. It is launching a program in Europe through Bucherer. Time will tell when it will come to the US. Bucherer is a Swiss retailer that has a presence in the US already through Tourneau, and are established in the secondhand space.A few big questions are, who is setting the pricing, and how will this be received by the market? People in the secondhand watch space think this legitimizes the space and makes it less like the wild west. This will give retailers something to sell, since new Rolexes go out of stock so quickly.How would a trade-in be priced? If people bring their Rolexes to a local dealer, will the dealer verify? Will they give credit or money? People often want to trade their watch in for another piece. Another consideration is who will be repairing the trade-ins? Victoria wonders if Rolex’s service centers will be handling all of these. Bucherer has a lot of pre-owned watches listed on their website, so it’s clear much of this will take place online.Victoria talks about the Audemars Piguet trial of a preowned market. They never rolled it out fully, and didn’t respond to her call to comment on it. Other big brands haven’t commented either. Big brands have been doing well selling new watches, so they may not prioritize the pre-owned market right now.There’s a large community of watch collectors who are cynical about Rolex entering this market. They think you have to buy lower quality preowned pieces before being considered for the higher quality goods. Rob asks if people think Rolexes will be dominant in the secondhand category. Rolex dominates every market it is in. Authorized dealers have been reluctant to comment. Interesting to see how much power one brand can wield.Colored Diamonds Left BehindResults had been stellar for colored diamonds at auction, and now things are taking a downward turn. De Beers put out a collection of eight blue diamonds. A few failed to sell, a few were pulled from auction, and so far, none have sold. There’s a slowing down